Job opportunities in West Midlands increase by 13% year-on-year…
Figures released by the totaljobs Barometer show the number of vacancies posted across the West Midlands has increased by 13% in the first quarter of 2014 compared to the same period last year. This is a faster growth rate than the UK as a whole, which saw an 8% overall increase. Despite the rise in job postings, competition for jobs has increased by 3% in Q1 this year compared to the previous quarter, standing now at 19 applications for every West Midlands job. The totaljobs Barometer follows over 5.2 million jobseekers and 5,000 recruiters each month and, crucially, is three months ahead of the ONS unemployment statistics reporting. The travel, leisure and tourism sector has seen the biggest rise in job postings with an increase of 39% in Q1 this year compared to the same period in 2013.
Another booming industry in the region is banking, insurance and finance which has seen jobs growth of 25% in Q1 2014 compared to the same period last year. Roma Aitken, regional director at totaljobs.com in the West Midlands, said: “The fact that the West Midlands is creating jobs at a faster rate than the rest of the UK is a cause of celebration and testament to the region’s resilience. As the economy improves, so does businesses’ confidence to take on more staff. However, this also means jobseeker confidence improves which leads to stiffer competition for every job.
We are seeing more candidates applying for positions who are looking to progress their careers rather coming from unemployment and settling for any job.” On the other hand, some industries have not fared so well in the West Midlands. The retail sector, a big employer in the region, saw a 33% drop in the number of jobs posted in Q1 2014 compared to Q1 2013. Furthermore, the oil and gas industry has seen the number jobs posted fall by a third (33%) year on year.
Roma Aiken continues: “While the top line job figures look positive there are still underlying concerns, particularly when sectors like retail see a significant decline in job opportunities. It’s a reminder that the economy is still in the early stages of recovery and we are likely to see a continuation of this mixed outlook for the jobs market for some time. Hopefully, with an influx of jobs promised by the likes of ASDA and KFC, we will see further improvements in the second half this year.”
In the UK as a whole, there has been an 8% growth in the number of jobs available across the UK for the first three months of 2014. This has triggered a fall in competition for jobs, with the number of applications per job falling by 2% compared to the same period last year.
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